Gold prices in local markets increased during today's Wednesday trading session, driven by a rise in global market ounces, following the assassination of the head of the political bureau of Hamas.
This increase was also fueled by growing expectations of a cut in US interest rates, as markets await the Federal Reserve's meeting today, Wednesday, to determine the fate of interest rates.
Saeed Imbaby, executive director of the “iSagha” platform for gold and jewelry online trading, said that gold prices witnessed an increase by EGP 15 in the local markets during today’s trading, as a gram of 21 karat gold recorded EGP 3285, while an ounce rose to $2419.
He added that a gram of 24-karat gold recorded EGP 3754, a gram of 18-karat gold recorded about EGP 2816, a gram of 14-karat gold recorded about EGP 2190 and a pound of gold recorded about EGP 26280.
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